MaR Jun 18 2020

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Market Report for Jun 18 2020

Majority are often wrong

Most retail traders are wrong most of the time. Don’t follow the news, noise or herd, follow the price action and trend.

New Positions:
NET – buy stop order from a couple of weeks ago triggered unexpectedly @34.65. We were actually waiting for a retest or BuF but unfortunately triggered late in the day after the majority of the sessions move had already taken place.

Trade Zones:
NGM
PLMR
SDGR
SPOT
TER

Market Trend:
Up

Market YTD:
Nasdaq Composite +10.5% YTD
S&P 500 -3.6% YTD
Dow Jones Industrial Average -8.5% YTD
Russell 2000 -14.5% YTD

Market Volume:
NYSE Vol: 1.0B
Nasdaq Vol: 4.2B

Comments:
All the major indices, except Nasdaq closed lower yesterday. Weakness could’ve seen in small-caps, financials and energy which were -1.51% and -3.41%.

Due to the mix in nature, wait for a further pullback for opportunities or wait for all indices to return green for breakouts. So today we will be standing aside.

PORT Jun 18 2020

Lets go trade!